A Chinese company is involved in the takeover battle for Baffinland Iron Mines Corp., the Toronto-based iron-ore mining company that ArcelorMittal is trying to acquire, a Chinese official said.
ArcelorMittal, the world’s largest steelmaker, and Nunavut Iron Ore Acquisition Inc., backed by Houston-based private equity-firm Energy & Minerals Group, are vying for Baffinland’s Mary River project. [...]

Cnooc Ltd., China’s biggest offshore oil producer, said profit rose 90 percent in the first nine months of last year as it ramped up production to meet demand in China, reported Friday’s Bloomberg.
Consolidated net income increased to 38.9 billion yuan ($5.9 billion) from 20.5 billion yuan a year earlier, the Beijing-based energy explorer said in [...]

Chinese car and battery maker BYD said it had acquired an 18 percent stake in Zhabuye Lithium for 201 million yuan ($29.89 million), reported Thursday’s Reuters.
Zhabuye Lithium owns 20-year exclusive mining rights for the Zhabuye salt lake, the biggest lithium mine in China. Lithium is a key raw material in some rechargeable battery types.
The price [...]